Global Naval Vessel MRO Market Report 2021: Increased Defense Budget Spending in North America and Asia Pacific Market to Drive the Market - Forecast to 2029

Dublin, April 28, 2021 (GLOBE NEWSWIRE) -- The "Naval Vessel MRO Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to's offering.

The maintenance, repair and overhaul of navy vessels includes maintenance and repair works on engine & its components, vessel deck, mechanical, and electrical components. For efficient performance and proper running of mechanical and electrical components, standard operating procedures are followed as described in the navy manual.

Today, warships are considered as one of the largest platforms carrying complex weapons, equipment's, sensors amongst others. Therefore, their frequent repair and maintenance is thus of utmost importance since they have to be in high state of preparedness to face extreme environment, hostile territories and operational demands near shore or in deep sea.

Refit & repair are considered as critical activity of a vessel for its safe and efficient operation. The navy undertakes various sea worthiness and operational fitness tests primarily at naval docks. This service of making vessel or its fleet sea worthy, is also handed to public/private sector shipyards.

Most of navy vessels designs are old and in many cases, the ships are converted from commercial merchant ship. This conversion is one of the major reason for increased frequency of repair and maintenance works. Historically, navy ships were mostly adapted from cruise liners and passenger ships but now even the offshore going project vessels are also considered for conversion. Thus, the conversion activity mandatorily involves immense MRO activities and is one of the major driving factor for the navy vessel MRO market.

Royal navy and other naval vessels are very often deployed away from their base ports for very long duration that significantly arises MRO issues. In cases where there is high focus on warfare activities (expeditionary) and relief operations, navy vessels with high utility capacity are preferred, that requires frequent maintenance and repair of vessels as a defense mandate. Therefore, leading to high growth in maintenance, overhaul and repair of fleet.

The repair and maintenance are carried out under operational-cum-refit-cycle (OCRC) for each class of ship. The OCRC is propagated by the defense ministries of respective countries based on timely basis and its operational experience. The MRO techniques helps in introducing or phasing out of a particular class and built of ship. The OCRC defines the period wherein a particular naval vessel is to remain at sea, be under deployable state and finally a period it has to spend for MRO activity.

North America accounts for the highest expenditure in the MRO market and majority of the expenditure is made by the U.S. Asia Pacific and European regions also account for a significant portion of the market share.

The key naval vessel MRO service providers are, but not limited to: BAE systems, General Dynamics, Hutington Ingalls Industries, Lockheed Martin, Northrop Grumman, Elbit Systems, Raytheon, Rockwell Collins, SIAC, Kongsberg, SAAB, Teledyne Brown Engineering, Babcock International Group and URS Corporation.

Key Topics Covered:

Chapter 1. Preface

Chapter 2. Executive Summary
2.1. Global Naval Vessels MRO Market Snapshot

Chapter 3. Naval Vessels MRO Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Drivers
3.2.1. Increased Defense Budget Spending in North America and Asia Pacific Market to Drive the Market for the Forecast Period
3.3. Challenges
3.3.1. Highly Stringent Vendor/Dealer/OEM Selections for Raw Material Supply in Weapon and Navy Class Ship Building
3.4. Opportunities
3.4.1. Demand for C4ISR (Communications, Command, Control, Computers, Intelligence, Surveillance and Reconnaissance) Systems is Expected to Boost Market Growth in the Future
3.5. Attractive Investment Proposition, by Geography, 2020
3.6. Competitive Landscape
3.6.1. Competitive Landscape of Key Players in Battleships Growth Protection Systems Market, 2020

Chapter 4. Global Naval Vessels MRO Market, by MRO Service Type, 2019 - 2029 (US$ Mn)
4.1. Overview
4.1.1. Global Naval Vessels MRO Market Value Share, by MRO Service Type, 2021 & 2029 (Value, %)
4.2. Maintenance & Repair (MR) Level
4.2.1. Organizational MR
4.2.2. Intermediate MR
4.2.3. Depot MR
4.2.4. Voyage MR
4.3. Overhauls
4.3.1. Baseline Overhaul (BOH)
4.3.2. Regular Overhaul (ROH)
4.3.3. Complex Overhaul (COH)
4.3.4. Integrated Logistics Overhaul (ILO)

Chapter 5. Global Naval Vessels MRO Market, by Navy Vessels Type, 2019 - 2029 (US$ Mn)
5.1. Overview
5.1.1. Global Naval Vessels MRO Market Value Share, by Navy Vessels Type, 2021 & 2029 (Value, %)
5.2. Battleships
5.3. Corvettes
5.4. Submarines
5.5. Frigates
5.6. Others (minesweeper, dromon, full rigged ship, missile boat, etc.)

Chapter 6. Global Naval Vessels MRO Market, by Geography, 2019 - 2029 (US$ Mn)
6.1. Overview
6.1.1. Global Naval Vessels MRO Market Value Share, by Geography, 2021 & 2029 (Value, %)

Chapter 7. Company Profiles
7.1. BAE Systems
7.1.1. Business Description
7.1.2. Financial Information (Subject to data availability)
7.1.3. Product Portfolio
7.1.4. Key Developments
7.2. General Dynamics
7.3. Hutington Ingalls Industries
7.4. Lockheed Martin
7.5. Northrop Grumman
7.6. Elbit Systems
7.7. Raytheon
7.8. Rockwell Collins
7.9. SIAC
7.10. Kongsberg
7.11. SAAB
7.12. Teledyne Brown Engineering
7.13. Babcock International Group
7.14. URS Corporation

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